Topic: Sanctions

UAE bank pays $100 million penalty over US sanctions violations

Since learning about the misconduct, Mashreqbank spent over $120 million in four years to upgrade its compliance programme.

09 November 2021

Second Circuit immunity ruling is wrong, says Halkbank

Following several failed attempts to dismiss its indictment, Turkey’s state lender Halkbank is once again pushing to have its sanctions charges dropped.

09 November 2021

Despite headwinds, World Bank enforcement appears steady

“I was truthfully very shocked that they said they started 40 new investigations in the past fiscal year,” said one leading corporate defence lawyer.

08 November 2021

Second Circuit denies Halkbank’s challenge to US sanctions case

A US federal appeals court has said the Turkish state financial institution is not immune from prosecution for sanctions violations.

25 October 2021

US Treasury Department publishes sanctions review

19 October 2021

ZTE beefs up legal team during sanctions monitorship

The lawyers have joined the case following a report that a court-appointed monitor is seeking to extend his term by leveraging his friendship with a federal judge.

19 October 2021

GIR’s In-House Investigator Series: Neena Shenai at Medtronic

Featured in In-house

Neena Shenai, the Washington, DC-based chief global trade legal director at US-Irish medical device company Medtronic, tells GIR about the increased sanctions focus on the medical technology industry and what authorities could do to make compliance easier for the sector.

18 October 2021

US export control enforcer fines subsidiary of Vietnamese state entity

As part of the Commerce Department settlement, the California-based VTA Telecom Corporation agreed to spend $25,000 on improving its compliance systems within the next month.

13 October 2021

Singapore company denies links to alleged North Korea sanction breaches

Singapore-based energy trading company Winson Group has distanced itself from the findings of a UN report reviewing allegations that the company is a “key node” in the North Korean government’s illicit procurement of fuel.

06 October 2021

Schlumberger subsidiaries penalised in US sanctions probe

The two OFAC enforcement actions against separate Schlumberger subsidiaries add to a list of sanctions problems that the company has experienced in recent years.

28 September 2021

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